08.04.2011 | 12:31

    

According to reports of ОКNА МЕDIА portal, two Japanese companies, Sojitz and Jogmec, signed an agreement with Australian producer of rare-earth metals Lynas providing for investment of $250 million in mining and processing of rare-earth metal ores.

As a result, Sojitz and Jogmec will annually fill the market of Japan with at least 8,5 thousand tones of rare-earth metals.

Furthermore, Sojitz concluded with Lynas a supplementary agreement to position the company as its sole distributor in Japan.

Urged by the growing world's demand for rare-earth metals and their derivatives, Lynas is building an ore-dressing and processing enterprise in North-West Australia and a metallurgical works in Malaysia. It is expected that the company will deliver its products at the end of 2011.

Rare-earth metals are necessary components for many industries, for example, cerium oxide is indispensable material for production, grinding and polishing of glass.